Welch & Forbes LLC reduced its holdings in shares of Anadarko Petroleum Co. (NYSE:APC) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,434 shares of the oil and gas development company’s stock after selling 2,660 shares during the quarter. Welch & Forbes LLC’s holdings in Anadarko Petroleum were worth $3,175,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in APC. We Are One Seven LLC bought a new stake in Anadarko Petroleum during the 4th quarter worth approximately $41,000. Legacy Bridge LLC bought a new position in shares of Anadarko Petroleum in the 4th quarter worth $43,000. Essex Savings Bank bought a new position in shares of Anadarko Petroleum in the 4th quarter worth $67,000. Clean Yield Group bought a new position in shares of Anadarko Petroleum in the 4th quarter worth $75,000. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Anadarko Petroleum in the 4th quarter worth $84,000. Institutional investors own 85.57% of the company’s stock.
APC has been the topic of a number of research analyst reports. Wells Fargo & Co raised shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 23rd. Capital One Financial lowered shares of Anadarko Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Zacks Investment Research raised shares of Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Monday, October 22nd. Morgan Stanley decreased their price target on shares of Anadarko Petroleum from $85.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Finally, Cowen initiated coverage on shares of Anadarko Petroleum in a report on Thursday, November 29th. They issued an “outperform” rating and a $75.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $77.20.
Shares of Anadarko Petroleum stock traded up $0.56 during trading on Tuesday, hitting $43.12. The company’s stock had a trading volume of 112,082 shares, compared to its average volume of 5,371,868. The firm has a market cap of $21.10 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.79 and a beta of 1.58. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.81 and a quick ratio of 0.87. Anadarko Petroleum Co. has a 52 week low of $40.40 and a 52 week high of $76.70.
Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings results on Tuesday, February 5th. The oil and gas development company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Anadarko Petroleum had a return on equity of 10.14% and a net margin of 4.60%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Anadarko Petroleum Co. will post 1.54 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2019/02/12/welch-forbes-llc-sells-2660-shares-of-anadarko-petroleum-co-apc.html.
Anadarko Petroleum Company Profile
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
Featured Article: How to Trade Using Analysts Ratings
Want to see what other hedge funds are holding APC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Anadarko Petroleum Co. (NYSE:APC).
Receive News & Ratings for Anadarko Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anadarko Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.